Art. 748 – Donation of a movable property1.) If the value of the property is P5,000 or less, the donation maybe oral or written.2.) Oral donation requires the simultaneous delivery of the thing or of the document

representing the right donated.3.) If the value of the property exceeds P5,000, the donation and the acceptance shall

be made in writing. Otherwise, the donation shall be void.

Art. 764 – Revocation of Donation A donation shall be revoked at the instance of the donor when the done fails to

comply with the conditions imposed by the latter. An action for revocation must be instituted. The action shall prescribe in four years from non-compliance of the condition (the

accrual of the cause of action is from the expiration of the time within which the done must comply with the conditions of obligations of the donation.

Note however that: when the donation is an onerous one, the general rules on contracts must be applied as provided in Article 733. Corollarily, since a deed of donation is considered a written contract, It is governed by Article 1144 of the New Civil Code, which provides that the prescriptive period for an action arising from a written contract is ten (10) years from the time the cause of action accrues.

The right to file an action is transmissible to the donor’s heirs, and may be exercised against the donee’s heirs.

Even id Article 1197 of the New Civil Code provides that the courts may fix the duration when the obligation does not determine the period but from its nature and circumstances it can be inferred that a period was intended, this general rule cannot be applied when it would serve no other purpose than to delay or lead to an unnecessary and expensive multiplication of suits.